BTC Futures are on the peak as they have shown a trading volume of $134 Million in just a single hour on the platform of the Binance exchange.
The news came on the page from one of the members of Binance exchange saying that Bitcoin futures have reached the trade volume of 16000 Bitcoin during one hour.
Fourth Highest Trading Volume in the Crypto Futures Industry
This trading volume shown by the Bitcoin futures has become the fourth highest trading volume in the crypto futures trading industry.
16k BTC in 1 hour! 4th highest volume in the crypto futures industry (not even 1 month old!), the lowest taker fees, and the best matching engine. 0 outages, 0 ADLs. Experience the hype #binance_futures pic.twitter.com/hqvNtDgAPL
— AG (@AG_Binance) October 11, 2019
Bitcoin futures have shown a brilliant performance. The trading volume of $134 Million in just one hour is remarkable. Bitcoin futures are only one month old.
Bitcoin futures had to face an attack by someone recently which could have affected the BTC futures trading volume but the Binance CEO Changpeng Zhao clarified it and said that BTC futures are safe only the attacker lost some of his money. It helped the traders to feel relaxed.
A market maker from a smaller futures exchange tried to attack @binance futures platform. NO ONE was liquidated, as we use the index price (not futures prices) for liquidations (our innovation). Only the attacker lost a bunch of money, and that was that. pic.twitter.com/ztMZEtYKc6
— CZ Binance (@cz_binance) September 16, 2019
Despite this accident, BTC futures have been able to show such an efficient performance and touch the trading mark of $134 Million worth of 16000 BTC.
In the beginning, after the launch of Bitcoin Futures, these futures could not show good performance on the platform. And also the trading volume of the crypto industry has been below the mark of $300 billion. Apart from this, the price of the Bitcoin traded between the $7800 and $8k mark at that time.
Binance officials call the Bakkt bitcoin futures as the main reason behind this average performance of the crypto market.
But now, the crypto market has again gained its momentum as Bitcoin Futures on the Binance exchange platform provides it a good bullish start with a huge trading volume of $134 Million in only a single hour.